They often decide to settle rather than take the chance on an unfavorable verdict. If there's a history of high jury verdicts in the county, plus the notoriety of the case, it's a good business decision.
Plus, in many states (I don't know about FL specifically) if a plaintiff's lawyer makes a demand and the insurer does not settle, and the verdict comes in for more than the demand, the insurer is on the hook for the entire amount plus attorney fees and costs.
So yeah, it's a good business decision.
“They often decide to settle rather than take the chance on an unfavorable verdict.”
If there was a settlement it contained a confidentiality agreement. That’s why there hasn’t been anything published about how much the settlement was for. Hell, it could have been for $10...or $10 million. But my suspicion is any settlement would have been much closer to the former than to the latter.
Plus, in many states (I don't know about FL specifically) if a plaintiff's lawyer makes a demand and the insurer does not settle, and the verdict comes in for more than the demand, the insurer is on the hook for the entire amount plus attorney fees and costs.
So yeah, it's a good business decision.
Not so much, The weaselly insurance company actually tried to weasel out of paying anything
http://blogs.findlaw.com/injured/2012/08/trayvon-martins-mom-sued-by-travelers-insurance-co.htmlThat will be one million, thank you. \=Fulton made an insurance claim against Traveler's for about $75,000, reports The Washington Post. The insurance company had a policy with the homeowners' association at the Retreat at Twin Lakes in Sanford, Fla., where Trayvon Martin was killed, agreeing to cover the costs of certain injuries.
But instead of paying out Fulton's claim, Traveler's filed a lawsuit against Fulton so that a court would step in and clarify just what damages it owes, if any
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By filing the lawsuit against Sybrina Fulton, Traveler's is seeking a declaratory judgment from a judge. Generally, a declaratory judgment differs from other judicial rulings in that it does not require that any action be taken. Instead, the judge simply issues an opinion declaring the rights of each of the parties involved after analyzing the controversy. It should be noted, however, that a declaratory judgment is conclusive and legally binding. Traveler's Insurance Company basically sued Trayvon Martin's mom first, before she had a chance bring a lawsuit against the company. The judge's declaratory judgment will determine just what rights Sybrina Fulton has to recover damages from the insurance company.